Below Are the Account Balances for Eccles Corporation as of Its

Below are the account balances for Eccles Corporation as of its fiscal year ended April 30,20xx.Prepare a corporate income statement in good form,assuming 5,000 shares of common stock were outstanding during the year.
$\begin{array}{lr}\text { Administrative Expenses}&\$16,000\\\text { Cost of Goods Sold}&80,000\\\text { Discontinued Operations}\\ \text { (1) Income from the Operations of Discontinued Segment (net of taxes, \( \$ 5,000 \) )}&20,000\\\text { (2) Loss on Disposal of Segment (net of tax savings, \( \$ 6,000 \) )}&14,000\\\text { Extraordinary Loss from Fire (net of tax savings, \( \$ 4,000 \) )}&6,000\\ \text { Income Taxes Applicable to Continuing Operations } & 8,000 \\\text { Sales } & 160,000 \\\text { Selling Expenses } & 50,000\end{array}$